Jailing bankers is not the answer

Philip Booth appeared on BBC Radio 5 Live to discuss the Banking Commission's report.

Mr Booth argued that the current reforms ensure that when banks fail the taxpayers do not pick up the bill, instead it is the providers of capital, the owners of banks, and those who work for the banks who bear the cost. This current system is the best way to make sure that we get more ethical and more restrained behaviour rather than developing a whole new range of regulations. Mr Booth goes on to say that individuals should be held financially accountable for the mistakes they make, but the idea that they should be sent to prison is flawed.